US: Cloud-based vacation rental software company RealTimeRental has announced that the first ‘Stay Protection’ transaction in the US was carried out on its platform.
The transaction was made by Mary Allen Realty of Ship Bottom, New Jersey, which specialises in Long Beach Island vacation rentals and real estate.
Stay Protection enables RealTimeRental clients and hosts to offer full or partial refunds to their rental guests if their stay is disrupted by poor weather. From now on, property managers can seamlessly add the resource when creating a vacation rental booking using the software.
The current software program allows the company’s clients to refund renters with either a portion of the rent or the entire week’s expense, provided it rains more than a specified amount on four or more days of a weekly rental. Rainfall measurements are confirmed by AccuWeather and regulated exchange CX Markets and taken from local and regional weather stations.
RealTimeRental co-founder Joseph Testa said: “We are always looking to create integrated partnerships that help RealTimeRental clients stand out from their competition and achieve greater levels of success. Stay Protection offers a unique way for vacation rental offices to keep their rental guests happy in the case of inclement weather.
“We see Stay Protection not only as valuable to travellers, but also as a way for property owners to set their rental apart from the competition. Property owners can offer Stay Protection as an amenity or incentive for tenants to choose to stay in their rental property.
“We are thrilled to give the real estate and property management companies that use RealTimeRental the ability to offer this innovative product to their rental guests,” he added.
Furthermore, RealTimeRental’s software enables its clients to hedge their refund obligation to their rental guests by automatically sending through Stay Protection provision information to CX Markets, where everything is then confirmed.
For more information, visit the RealTimeRental website here.